The first of the 'Maple 10' group of investors has begun giving evidence at the trial of three former Anglo Irish Bank executives.
Former Anglo executives Sean FitzPatrick, Pat Whelan and Willie McAteer deny providing unlawful financial assistance to ten of the bank's customers and the family of businessman Sean Quinn to buy Anglo shares in July 2008.
Property developer Sean Reilly has told the jury that he received a phone call from Pat Whelan on July 8th 2008 asking him to meet with Anglo's then CEO David Drumm.
He said Mr Whelan attended the meeting with Mr Drumm who asked him to purchase 1% of the bank's shares with bank borrowings of up to 60 million to unwind a share position.
The court heard Mr Drumm did not mention that the share position was that of businessman Sean Quinn, however he told Mr Reilly that the Central Bank and financial regulator were aware of the deal, that they's sought legal advice and that 'everyone wanted it done'
He said he agreed to Mr Drumm's request because he was a long term customer, they'd a good relationship, the bank wanted him to do it and the deal was reasonable in that if the share price was completely wiped out, he'd only be liable for 25 % of the loan.
Earlier Sean Quinn Jnr gave evidence that it's his family's belief that loans advanced to him and his sisters to buy Anglo shares were illegal.
